Settlement Between US and Swiss Governments Expected to Be Avoid

A lawyer for the U.S. Department of Justice said on Friday morning that the U.S. government and UBS AG are still discussing a settlement deal in their high-stakes tax dispute and need additional time before discussing the case with a federal judge in Miami , Wall Street Journal reports.

Meanwhile, the U.S. and Swiss governments announced a deal in principle last week. No details have been released.

U.S. District Judge Alan S. Gold set a Friday morning hearing, then gave the sides a few more hours and scheduled a new time shortly before noon , The Associated Press reports.

However, Gibson asked the judge to delay the rest of the conference call by a few hours to allow the discussions to reach a settlement on the diplomatically sensitive tax-evasion case to continue.

The judge rescheduled it for 1530 GMT (11:30 local time).

A final out-of-court settlement between the US and Swiss governments and the banking giant is widely expected to avoid a federal court trial scheduled to open Monday in Miami , AFP reports.